The Truth about 529 College Savings Plans

On January 08, 2020
In College Planning, Financing College

There is a great flaw in the college financing system that people seem unwilling to mention. Maybe it’s not politically correct to discuss, maybe that’s the problem; this nation has stopped discussing. Maybe we’ve become a nation that is so concerned with looking like we are doing the right thing that we are selling ourselves short. A prime example of this is the college financing system and thus college savings plans.

Improving your Credit Score to Better your College Financial Aid Options

Of the three main types of student loan options: Stafford, Parent PLUS, and Private Education Loan, parents’ credit scores play a large part in all but Stafford. Lending institutions have become more stringent on their lending practices for student financial aid. Like everything else in the loan industry, lenders are taking a hard look at applicants’ credit scores in order to rate the safety of the loan. The better the credit score, the better the loan rate, and the better the chances of getting that loan you need. But what makes up the credit score? And how can you improve your score?

SAT or ACT? That is the Question…

It’s no secret that the SAT and/or the ACT are important. However, most people don’t understand why it is so important to focus on these tests. Your SAT/ACT score is the only thing that is still completely in your control. By the time you are a junior in high school, significantly raising your GPA is mathematically impossible, and improving class ranking has you relying on other people’s failures. With the right amount of studying, you can see a tangible increase in your SAT/ACT test score. Improving your test score can generate thousands, even tens of thousands of dollars in college savings.

First Generation College Students: Best Practices

Trailblazing the college jungle as a first-generation college student – you’re not alone.

You’ve applied and been accepted, and now you’re mentally preparing for college. But as a first-generation college student, you may not have a clear idea of what college will actually be like. Preparation is key. The best practice tips that follow are mostly about tapping resources that exist on campus. For even more resources tailored to exactly what the first generation student needs, check out this excellent website: www.FirstGenerationStudent.com

Divorce and Financial Aid

The college application process can be daunting. There are applications, letters, portfolios, interviews and the infamous and dreaded Financial Aid forms. Students and parents of divorced families face an even tougher challenge as they navigate the additional legal implications that arise when completing these forms. The online article, entitled “Divorce and Financial Aid” on www.finaid.com, succinctly and thoroughly covers this issue. The article addresses common questions surrounding divorce in the context of financial aid and summarizes parental obligations in completing the FAFSA (Free Application for Federal Student Aid) form.